New Delhi: White-collar crimes present a formidable challenge to the judicial and economic systems, and require a “multifaceted and nuanced” approach, Supreme Court Justice Hima Kohli said on Wednesday.
The high court judge defended the use of advanced technologies to prevent such crimes.
"Leveraging advanced technologies such as data analytics, artificial intelligence and blockchain will improve the ability to detect, investigate and prosecute white collar crime," he said.
Justice Kohli spoke on the topic 'Second Speech on the Judicial Perspective on Economic Crimes and Corporate Malpractices' at an event organized by the Center for Speeches on Criminal and Constitutional Jurisprudence.
“White collar crime presents a formidable challenge to India’s judicial and economic systems and requires a comprehensive and nuanced response. Fighting this crime requires a multifaceted approach.
“The judiciary, supported by strong legislative frameworks and specific institutional mechanisms, is essential in addressing these crimes. The establishment of specialized courts assisted by experts in financial and economic crimes is essential for a timely and effective resolution,” he stated.
Differentiating between traditional and white-collar crimes, he said traditional crimes often arise from emotions such as anger or revenge and, if cold-blooded, are meticulously planned and executed, sometimes with the help of people with criminal records. penalties.
“In contrast, white collar crimes are driven by greed and characterized by careful planning and execution by people with professional assistance. While white collar crimes cause financial or reputational harm and carry substantial financial penalties when detected, traditional crimes cause physical and emotional harm,” Justice Kohli said.
However, both types of crimes have a profound effect on victims and society at large, he added.
“It is essential to ensure robust cybersecurity controls to address digital fraud, effective third-party risk management and a culture of compliance in financial institutions. “Digital case management systems can streamline court processes, reduce delays and improve efficiency,” he stated. Continued training and capacity building for law enforcement agencies, prosecutors and judges is critical to staying ahead of the evolution of these crimes, he said.
“Strengthening these areas can help build a more resilient and transparent legal system that upholds justice and integrity, mitigates the impact of white-collar crime, and fosters a society where trust and accountability are paramount,” he said.
The high court judge defended the use of advanced technologies to prevent such crimes.
"Leveraging advanced technologies such as data analytics, artificial intelligence and blockchain will improve the ability to detect, investigate and prosecute white collar crime," he said.
Justice Kohli spoke on the topic 'Second Speech on the Judicial Perspective on Economic Crimes and Corporate Malpractices' at an event organized by the Center for Speeches on Criminal and Constitutional Jurisprudence.
“White collar crime presents a formidable challenge to India’s judicial and economic systems and requires a comprehensive and nuanced response. Fighting this crime requires a multifaceted approach.
“The judiciary, supported by strong legislative frameworks and specific institutional mechanisms, is essential in addressing these crimes. The establishment of specialized courts assisted by experts in financial and economic crimes is essential for a timely and effective resolution,” he stated.
Differentiating between traditional and white-collar crimes, he said traditional crimes often arise from emotions such as anger or revenge and, if cold-blooded, are meticulously planned and executed, sometimes with the help of people with criminal records. penalties.
“In contrast, white collar crimes are driven by greed and characterized by careful planning and execution by people with professional assistance. While white collar crimes cause financial or reputational harm and carry substantial financial penalties when detected, traditional crimes cause physical and emotional harm,” Justice Kohli said.
However, both types of crimes have a profound effect on victims and society at large, he added.
“It is essential to ensure robust cybersecurity controls to address digital fraud, effective third-party risk management and a culture of compliance in financial institutions. “Digital case management systems can streamline court processes, reduce delays and improve efficiency,” he stated. Continued training and capacity building for law enforcement agencies, prosecutors and judges is critical to staying ahead of the evolution of these crimes, he said.
“Strengthening these areas can help build a more resilient and transparent legal system that upholds justice and integrity, mitigates the impact of white-collar crime, and fosters a society where trust and accountability are paramount,” he said.
